Agenda - 01-15-2008-3c - Laserfiche WebLink

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Breeze Agricultural Conservation Easement (I) 12/21/07 draft (clean) ~~0 divest itself of any rights, title, or interests of this Conservation Easement without the prior consent of the Secretary of the United States Department of Agriculture and payment of consideration to the United States, then, at the option of such Secretary, all right, title, and interest in this Conservation Easement shall become vested in the TED STATES OF AMERICA. 19. Transfer of Conservation Easement Subject to the contingent rights of the United States of America as specified in Paragraph 18 and other pertinent paragraphs herein, and with timely written notice to and approval of the United States Department of Agriculture, Grantee shall have the right to transfer the Easement created by this Deed to any public agency, provided the agency or organization expressly agrees to assume the responsibility imposed on the Grantee by this Deed. 20. Transfer of Property The Grantor agrees to incorporate by reference the terms of this Conservation Easement in any deed or other legal instrument by which they transfer or divest themselves of any interests, including leasehold interests, in all or a portion of the Property. Grantor shall notify Grantee in writing at least thirty (30) days before conveying the Property, or any part thereof or interest therein. Failure of Grantor to incorporate by reference the terms of this Conservation Easement in an instrument of transfer or conveyance or to notify Grantee of a transfer or conveyance shall not impair the validity of this Conservation Easement or limit its enforceability in any way. 21. Amendment of Conservation Easement This Conservation Easement may be amended only with the written consent of Grantee, Grantor, and the United States. Any such amendment shall be consistent with the Statement of Purposes of this Conservation Easement and with Grantee's and the United States' Conservation Easement amendment policies, and shall comply with Section 170(h) of the Internal Revenue Code or any regulations promulgated in accordance with that. section. Any such amendment shall be duly recorded. 22. Procedure in the Event of Termination of Conservation Easement If it determines that conditions on or surrounding the Property change so much that it, becomes impossible to fulfill the conservation purposes of this Conservation Easement, a court with jurisdiction may, at the joint request of both the Grantor and Grantee and with prior consent of the United States Department of Agriculture, terminate or modify the Conservation Easement created by this Deed in accordance with applicable law. If the Conservation Easement is terminated and the Property is sold then as required by Section 1.1 70A-14(g)(6) of the IRS regulations, Grantee shall be entitled to forty-five percent (45%) of the net sale proceeds (equal to the ratio of the appraised value of this Conservation Easement to the unrestricted fair market value of the Property, as these values are determined on the date of this Conservation Easement), subject to any applicable law which expressly provides for a different disposition of the proceeds.